Citi wins Bangladesh banking licence

Citigroup has become the first foreign bank to secure a merchant banking licence in Bangladesh, enabling the US dealer to act as an adviser, underwriter and lead manager in the country's local capital markets. Silmat Chisti has been appointed head of Citigroup Global Markets Bangladesh. Citi has operated in Bangladesh since 1987, offering mostly corporate banking services, but can now offer traditional merchant banking or investment banking services.

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